31–40 of 192 posts
Earlier quoted context omitted.
Investment banks will just buy up any affordable housing.
That means there is not enough. Housing can't be affordable if a small set of organizations can have it all.
We just keep trying to crowd into existing places.
It seems like the author is willfully miss-understanding Trudeau's statement. Value and affordability can be considered independently. Increasing median income and economic growth both increase affordability, even if housing costs track inflation.
Not necessarily. If you add density to an existing lot, your land increases in value, and since it’s likely the majority of the value of your property, your property probably goes up in value. Then, the increased supply decreases the cost of shelter.
In any case, the problem might very well be, directly, that prices are too high, because it has invited speculation and warehousing. Inventory as the crux might be wrong.
Eventually people will just stop participating in the housing game and there’s no telling where that will lead.
As a homeowner I see little benefit for me for the insane value of my home. Do I want to pay more in property taxes? No. If I sell it’s to just buy a different insanely priced home. I suppose I’m privileged in that I have other retirement plans so my kids will inherit my home - and that’s good I guess if they ever want to afford a home. Homes being an investment is the wrong mindset for a healthy society. Have cheap…
It’s going to be very difficult to make housing more affordable with high interest rates and high inflation. I highly doubt just increasing supply is going to be enough.
Make a law that only humans can buy residential property, and only one house for one human.
We accept the limited availability of other luxury items, why is housing in a _specific_ locality any different?
If housing affordability is a problem, live somewhere else.
Not necessarily. If you add density to an existing lot, your land increases in value, and since it’s likely the majority of the value of your property, your property probably goes up in value. Then, the increased supply decreases the cost of shelter.
With high density housing, me and another few hundred people who would have been demand for land can instead buy condos or rent apartments and share that plot of land. Our demand was satisfied for fractions of a percent of the supply it would have taken with low density housing.
Ie high density housing efficiently uses land, thereby reducing demand for it.
Some areas will be gentrified and be worth more. If I were going to guess, the downtown core will spike in value and the suburbs will have to drop in value to compete with the affordability of downtown living.
I suspect a lot of people would live downtown instead of the suburbs if they could get a 2/3BR that wasn’t 4x the cost of living in the suburbs.
You know what is neat when housing prices go down? You pay less to upgrade your house size than when the prices go up. Despite the fact your own house value dropped. Housing price dropping is good for basically everyone I say.
If prices go down I won't sell my current house for as much as I bought. If I try to upgrade, granted the new house will be less expensive, but I won't have access to as much funds to pay for it.